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Not using cards or auto closing?

Valued Contributor

Re: Not using cards or auto closing?

Either way you SD your card or close them they will still report the TL for 7 years.

Like some say rotate your cards to keep them open. Just pay it off before your statement closes so it will not be counted towards your total utilization

Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
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Message 11 of 13
Super Contributor

Re: Not using cards or auto closing?

For my original Cap One, I never use it, but they won't close.  However, when there's no activity, it reports as "ND" instead of "OK."

Message 12 of 13
Senior Contributor

Re: Not using cards or auto closing?

@Skye12329 wrote:

Would it be more logical just to close it?

Logic really doesn't matter.  What works for you does.  Verify what criteria the issuer uses to close accounts (not all do and not all use the same critieria).  Are you unable to use the cards to meet their requirements?  If you're never going to use a card and run into the risk of closure frequently then it may make sense just to close it.


@SnackTrader wrote:
You are referring to two different things in your post.

One is utilization, which is the balance of your cards as a percent of your credit limits that reports to the credit bureaus.

@SnackTrader wrote:

The second thing you allude to is inactivity.

^ This.  Utilization and activity are two different things.  Activity does not have a utilization attached to it.  The general recommendation is to keep utilization under 30% but the lower the better as long as you don't hit 0.


@nvrgvupnvrsrndr wrote:
If memory serves correct, I thought the standard was to use a card at least once every 6 months.

"Standard" doesn't matter either.  One has to meet the particular issuer's usage requirements to avoid closure.  Again, they're not all identical.

Message 13 of 13
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